Whale Watching: BTC and USDC combine for $172m in transactions this week

15 Feb, 2019
Analysis
Whale Watching: BTC and USDC combine for $172m in transactions this week

This week of whale watching sees the disappearance of XRP whale moves, which had dominated the charts for the past few weeks, and sees the crypto king back on top of the charts. This week features only two cryptos, BTC and USDC.

This week's biggest whale move is handed back to Bitcoin, with a whopping $72.5m transaction being sent from an unknown wallet to an unknown wallet. USDC features three times in our top five with an impressive $45.2m transaction taking second place. 

Read More: USDC hits $5.5 B transactions, releases progress report

USDC has been gaining popularity as a stable coin, following its recent reports showing proof of backed funds as well as processing over $5.5 billion in transactions. 

The three moves on the list all feature unknown wallets. The news surrounding USDC, and also being the primary stable coin for Coinbase, makes the stable coin a popular choice for users to buy and sell into. 

Read More:  If I'm not a Bitcoin whale, then what am I?

BTC regains top spot after several weeks lagging behind Ripples massive whale moves. Ripple saw little activity this week with several small moves totalling less than $10 million. Bitcoins biggest move remains a mystery as the wallets are unknown. However, number four on the chart, features Poloniex exchange sending out 4,309 BTC to an unknown wallet. This is the only transaction in the top five with a known wallet address.

The total transaction cost of all five whale moves, totalled $95.04 to move $172 million. Bitcoin was the main culprit, making up $94.93 of the tx cost.

Image from Gyazo

TOP 5 LARGEST WHALE MOVEMENTS:

5. 15,000,000 #USDC (15,293,573 USD) transferred from Unknown wallet to Unknown wallet - 12 Feb

Tx Cost: $0.03


4. 4,309 #BTC (15,645,741 USD) transferred from #Poloniex to Unknown wallet - 13 Feb

Tx Cost: $58.73


3. 23,078,724 #USDC (23,417,154 USD) transferred from Unknown wallet to Unknown wallet - 12 Feb

Tx Cost: $0.04


2. 44,565,689 #USDC (45,219,209 USD) transferred from Unknown wallet to Unknown wallet - 12 Feb

Tx Cost: $0.04

 


1. 20,000 #BTC (72,582,941 USD) transferred from Unknown wallet to Unknown wallet - 13 Feb

Tx Cost: $36.20

Read More: Who are known Bitcoin whales? 5 famous whales in the cryptocurrency space

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Read more about: Bitcoin (BTC)

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